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CMS Advises Phillips Industries on First Acquisition in CEE

CMS Advises Phillips Industries on First Acquisition in CEE

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CMS Warsaw has advised Phillips Industries on its purchase of Fortech, a Polish manufacturer of high-quality electrical connections for trucks and cars.

Phillips Industries is a US-based family business and manufacturer of advanced electrical and air brake components as well as electronic solutions for communicating vehicle data to fleets and their drivers for the commercial truck and trailer industry. According to CMS, "its products are standard on nearly 100% of Class 8 trucks and more than 50% of all trailers manufactured in North America." The company operates in the US and Canada, Mexico, and China. 

The acquisition of Fortech is the American company’s first investment in Central Eastern Europe. The newly formed company will be identified as Phillips-Fortech Poland Sp. z o. o., and Jacek Pekala, the founder of Fortech Poland, will serve as president of the management board of the new company. 

According to a Phillips Industries press release, “Fortech Poland manufactures a similar line of commercial vehicle electrical components as those produced by Phillips Industries in North America and distributes to customers throughout the European Union." Phillips reports that "in addition to the similarity of the product offerings, the strong management and entrepreneurial spirit of Fortech singled them out as an excellent acquisition for Phillips to establish a more significant manufacturing, distribution and R&D presence in Europe."

CMS's team included Senior Associate Julita Mazurkiewicz and Lawyer Patrycja Maliszewska. Partner supervision was provided by Blazej Zagorski.

CMS did not reply to our inquiries on the matter. 

 

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